The Blow-Fill-Seal Technology Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Blow-Fill-Seal Technology Global Market Report 2024, The blow-fill-seal technology market size has grown rapidly in recent years. It will grow from $3.28 billion in 2023 to $3.64 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to continuous improvement and standardization, global market penetration, packaging design flexibility, reduced environmental impact, production scalability..
The blow-fill-seal technology market size is expected to see rapid growth in the next few years. It will grow to $5.67 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to expansion across industries, increased demand for sterile packaging, focus on convenience and safety, rise in unit dose packaging, demand for personalized medicine.. Major trends in the forecast period include diversification into various sectors, shift towards unit dose packaging, industry 4.0 integration, rise in biologics and vaccines packaging..
The increasing pharmaceutical industry is expected to propel the growth of the blow-fill-seal technology market going forward. The pharmaceutical industry is associated with the research, development, and production of pharmaceuticals and remedies. Blow-fill seal (BFS) technology helps to package products to protect them from physical damage, chemical contamination, and microbiological contamination. For instance, according to the Indian Economic Survey 2021, released by the Ministry of Finance, Government of India, India’s domestic pharmaceutical market stood at US$ 42 billion in 2021 and is likely to reach US$ 65 billion by 2024 and further expand to reach US$ 120-130 billion by 2030. Therefore, the increasing pharmaceutical industry is driving the growth of the blow-fill-seal technology market.
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The blow-fill-seal technology market covered in this report is segmented –
1) By Product Type: Bottles, Ampoules, Vials, Prefilled Syringes and Injectable
2) By Material Type: Polyethylene (PE) , Polypropylene (PP) , Other Materials
3) By Specification: Small Volume, Large Volume
4) By End Use: Pharmaceuticals, Food and Beverage, Cosmetics and Personal Care, Other End Users
Technological innovations are a key trend gaining popularity in the blow-fill-seal technology market. Major companies operating in the blow-fill-seal technology market are advancing toward the use of moulding technology for innovating new lightweight products. For instance, in January 2021, Berry Global Healthcare, a US-based manufacturing company providing analytical laboratory instruments, launched Cyrano, a new lightweight dual-port blow-fill seal closure. The unique features of the product are that it is easy to use on the latest blow-fill-seal machines that include advanced moulding technology to create lightweight components that deliver better performance to enhance drug administration, improve patient safety, and protect product integrity.
The blow-fill-seal technology market report table of contents includes:
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